Key Takeaways with Craig
US Equity Indexes rose sharply today as the market tries to recover from weeks of declines as implied volatility ticked lower. Implied volatility remains above the 3 month average in the E-mini S&P 500 and Nasdaq-100. US Treasury Yields rose today, more at the longer end of the curve as the Micro Treasury Yield 2-year was up by about 4 basis points and the 10 and 30 Year Yields were up by about 7.5 basis points.
WTI Crude Oil futures prices were little changed on the day but Natural Gas futures rose by another 8.5% to 8.835. We used QuikStrike to graph Natural Gas futures price and implied volatility going back to 2009. As you can see below, with today’s move, prices are as high as we’ve seen them since then. And implied volatility, while not at the highest level we’ve seen, is still trading at a historically high level of approaching 100%. For comparison sake, implied volatility in CME Bitcoin options, which have also seen significant price volatility is trading at about 73%.
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